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Banana Republic is an American upscale clothing and accessories retailer owned by The Gap. It was founded in 1978 by Mel Ziegler, who originally called the company "Banana Republic Travel & Safari Clothing Company". In 1983, Gap purchased the company, changed the name to "Banana Republic", and rebranded the stores to achieve a more upscale image. In the 2020s, VP of design Nicole Wiesmann has re-envisioned the brand with ad editorial campaigns that evoke luxury brands, and higher-end garments that have been compared favorably with names such as Ralph Lauren and The Row. "Inside Banana Republic's Bid to Regain Relevance". LAUREN SHERMAN and CATHALEEN CHEN, Business of Fashion, 21 September 2022
Gap Inc. acquired Banana Republic in 1983. By 1988 the founders, Mel and Patricia Ziegler, lost creative control, eventually rebranding it as masstige, an accessible mass luxury clothing retailer. The literate articles, hand-drawn catalog, and eccentric tourist-oriented items were phased out and were replaced with more luxurious, but not unique, items for which the brand would eventually become known, currently replacing higher quality materials for mass quality lower cost fabric standards.
Banana Republic opened its first store outside North America in 2005 in Tokyo's Ginza shopping district. Banana Republic's presence in South Korea debuted in August 2007 with a store in the Apgujeong district of Seoul.
In 2007, the first Banana Republic stores opened at The Avenues shopping mall in Kuwait City, Kuwait; Senayan City in Jakarta, Indonesia; and Pavilion Kuala Lumpur in Kuala Lumpur, Malaysia.
Banana Republic opened its first store in Turkey in March 2008 in the Kanyon Shopping Mall in Istanbul. By May 2008, İstinye Park Shopping Mall and Nişantaşı stores were also opened in Istanbul. More stores are planned to be opened in Ankara and İzmir by the end of 2008 to bring the total number of stores in Turkey to six.
Banana Republic opened in Saudi Arabia in late 2008, with a store in Mall of Arabia in Jeddah and a second in Riyadh Gallery Mall in Riyadh in March 2009.
In March 2008, Banana Republic opened its store on Regent Street in London, England. On May 9, 2008, Banana Republic opened its store on Greenbelt 5 in Makati, Philippines.
In October 2016, Banana Republic announced that it would close all its UK stores by the end of the year, due to falling sales. As of 2017, Banana Republic had over 700 locations, but as a result of European stores closures, there are none left in Europe.
In August 2020, Banana Republic alongside Gap announced that they will close over 225 store locations as a result of the COVID-19 pandemic. The original plan was to close only 90 stores, however, they expanded the number as a consequence of the financial effects caused by the pandemic. The company has not stated the exact locations that will be closed, but most will be stores within malls.
Banana Republic produced a fall/winter capsule collection with New York–based fashion designer Peter Do in 2023.
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